Sibanye Stillwater operating guidance for 2023
Mined 2E PGM production at the US PGM operations is forecast to be between 420,000 2Eoz and 430,000 2Eoz, with AISC between US$1,750/2Eoz and US$1,825/2Eoz (R31,500/2Eoz to R32,850/2Eoz). Capital expenditure is forecast to be between US$320 million and US$340 million (R5.76 billion to R6.12 billion), including approximately US$35 million (R630 million) project capital.
3E PGM production from the US PGM recycling operations is forecast to between 350,000 3Eoz and 400,000 3Eoz fed for the year. Capital expenditure is forecast to be about US$1.4 million (R25 million).
Forecast 4E PGM production from the SA PGM operations for 2023 remains unchanged at between 1.7 million 4Eoz and 1.8 million 4Eoz including third party PoC, with AISC between R20,800/4Eoz and R21,800/4Eoz (US$1,156/4Eoz to US$1,211/4Eoz) – excluding the cost of third party PoC. Capital expenditure is forecast at R5.4 billion (US$300 million) for the year, including project capital of R920 million (US$51 million) for the K4 project.
Gold production from the managed SA gold operations (excluding DRDGOLD) for 2023 is forecast at between 19,500kg (625koz) and 20,500kg (660koz). AISC is still forecast to be between R1,190,000/kg and R1,290,000/kg (US$2,056/oz to US$2,230/oz) due to lower production as a result of the incidents mentioned above. Capital expenditure is forecast at R5.4 billion (US$300 million), including R1.6 billion (US$90 million) of project capital expenditure for the Burnstone project.
Production from the Sandouville nickel refinery is forecast at between 7.0 kilotonnes to 7.5 kilotonnes of nickel equivalent product (Ni) at anickel equivalent AISC of between $33,715/tNi and $34,588/tNi (R657,000/tNi to R675,000/tNi) with capital expenditure of $14 million (R273million). The capital expenditure forecast for the Keliber lithium project for 2023 has been reduced from $231 million (R4.5 billion) to $130 million (R2.3 billion). With the commencement of the construction of the concentrator in Q4 2023, most of the capex budgeted for 2023, will now occur in 2024.
